Campbell Soup (NASDAQ:CPB) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Campbell Soup (NASDAQ:CPB) by 6.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 278,607 shares of the company’s stock after purchasing an additional 17,663 shares during the quarter. Principal Financial Group Inc.’s holdings in Campbell Soup were worth $13,629,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. M&G Plc purchased a new position in shares of Campbell Soup during the 2nd quarter worth $469,000. Swedbank AB purchased a new position in Campbell Soup during the first quarter worth about $11,405,000. Dimensional Fund Advisors LP boosted its holdings in Campbell Soup by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock valued at $129,971,000 after purchasing an additional 363,736 shares during the last quarter. MN Wealth Advisors LLC purchased a new stake in shares of Campbell Soup in the 3rd quarter valued at approximately $940,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Campbell Soup during the 1st quarter worth approximately $1,239,000. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CPB shares. DA Davidson cut Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a report on Friday, September 27th. Sanford C. Bernstein raised Campbell Soup from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $58.00 in a research note on Monday, October 7th. Wells Fargo & Company raised their price objective on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Argus raised shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Friday, September 20th. Finally, StockNews.com upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $51.58.

Campbell Soup Price Performance

Shares of CPB opened at $43.15 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. Campbell Soup has a fifty-two week low of $39.65 and a fifty-two week high of $52.81. The company has a market cap of $12.84 billion, a P/E ratio of 22.83, a PEG ratio of 2.64 and a beta of 0.19. The firm’s 50 day moving average price is $47.95 and its 200 day moving average price is $47.05.

Campbell Soup (NASDAQ:CPB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, research analysts forecast that Campbell Soup will post 3.2 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Thursday, October 3rd. Campbell Soup’s dividend payout ratio is presently 78.31%.

Campbell Soup Profile

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.